Tools For Humanity, the developer behind Worldcoin, has acquired Solana-based digital wallet startup Ottr Finance.
Tools For Humanity, the developer behind Worldcoin, has acquired Solana-based digital wallet startup Ottr Finance. This move is seen as a strategic step to strengthen Worldcoin's user onboarding process, particularly for individuals new to the Web3 space.
Worldcoin aims to establish a global network of verified individuals using iris scans and rewards participants with its native token, WLD. Despite privacy concerns, the project has amassed nearly 3.9 million users across 120 countries since launching just 220 days ago.
Ottr Finance, known for its user-friendly features like bank account integration and gas-free transactions, will integrate its services into Tools For Humanity. "We are excited to contribute our expertise to advance the world of digital identity and finance," said Ottr CEO Aleksei Zakharov, highlighting the shared vision behind the acquisition.
While features like seamless US bank integration might be beneficial in the future, Worldcoin's WLD token remains unavailable to US residents due to regulatory considerations. Ottr Finance is currently assisting users in transitioning to alternative wallets by providing a three-month window to export necessary data.
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